Chrysler 2006 Annual Report Download - page 96

(in millions of euros) 2006 2005
FAFS 46 –
Tofas-Turk Otomobil Fabrikasi Tofas A.S. 82 44
Società Europea Veicoli Leggeri-Sevel S.p.A. 110 35
Société Européenne de Véhicules Légers du Nord-Sevelnord Société Anonyme 11
Other minor amounts 41 21
Total Current trade receivables due from jointly controlled entities 280 101
■Current receivables from financing activities of 174 million euros (8 million euros at December 31, 2005): these relate to
receivables resulting from financial activities carried out by the Group with jointly controlled entities (Sevel) and receivables of 143
million euros at December 31, 2006 from jointly controlled financial service companies (FAFS) resulting from the financing of the
sales network.
■Other current receivables of 129 million euros (17 million euros at December 31, 2005): these relate mostly to other receivables
of 113 million euros due from FAFS of which 98 million euros relate to the extended term consideration due in connection with the
transaction by which the joint venture was established.
■Asset-backed financing of 124 million euros (nil at 31 December 31, 2005): these relate to amounts due to FAFS for sales
of receivables which do not qualify as sales under IAS 39.
■Other financial payables of 266 million euros (51 million euros at December 31, 2005): this item includes 243 million euros
of other payables of a financial nature due to FAFS.
■Trade payables: these relate to payables resulting from the costs discussed above and, starting from December 2006, those
arising from the Group’s trade relationships with FAFS. In particular:
(in millions of euros) 2006 2005
Tofas-Turk Otomobil Fabrikasi Tofas A.S. 152 124
Società Europea Veicoli Leggeri-Sevel S.p.A. 655 372
Société Européenne de Véhicules Légers du Nord-Sevelnord Société Anonyme 56 74
FAFS 76 –
Other minor amounts 89
Total Trade payables due to jointly controlled entities 947 579
Transactions with associated companies
The principal transactions are as follows:
■Revenues: transactions consist principally of the sales of motor vehicles, production systems and components, including engines
and gearboxes, and the provision of services, to the following companies:
(in millions of euros) 2006 2005
Iveco Finance Holdings Ltd. (a subsidiary of the Barclays group), for the sale
of industrial vehicles leased out by the associate 225 150
Otoyol Sanayi A.S., for the sale of industrial vehicles 72 49
Other minor amounts 105 78
Total Revenues from associated companies 402 277
Fiat Group Consolidated Financial Statements at December 31, 2006 -Notes 189
of which: with related parties
Jointly
At December Unconsolidated controlled Associated Other related Total related Effect on
(in millions of euros) 31, 2005 Subsidiaries entities companies parties parties Total (%)
Other investments and financial assets 571 11 – 68 – 79 13.8%
Inventories 7,881 – 38 – – 38 0.5%
Trade receivables 4,969 15 101 87 – 203 4.1%
Receivables from financing activities 15,973 60 8 5 – 73 0.5%
Other current receivables 3,084 13 17 4 – 34 1.1%
Cash and cash equivalents 6,417 – – 2 – 2 0.0%
Asset-backed financing 10,729 – – 212 – 212 2.0%
Other debt 15,032 35 51 67 – 153 1.0%
Trade payables 11,777 16 579 26 – 621 5.3%
Other payables 4,821 1 38 2 – 41 0.9%
Transactions with jointly controlled entities
Significant transactions with jointly controlled entities are set out as follows:
■Net revenues: transactions consist principally of the sales of motor vehicles, production systems and components, including
engines and gearboxes, and the provision of services, to the following companies:
(in millions of euros) 2006 2005
Tofas-Turk Otomobil Fabrikasi Tofas A.S., for the sale of motor vehicles 820 681
Società Europea Veicoli Leggeri-Sevel S.p.A., for the sale of engines, other components
and production systems 607 650
Iveco Fiat-Oto Melara Società consortile, for the sale of vehicles and special transport 108 115
Société Européenne de Véhicules Légers du Nord-Sevelnord Société Anonyme, for the sale of
engines and other components and production systems 74 41
New Holland Trakmak Traktor A.S., for the sale of Agricultural and construction equipment 36 30
New Holland HFT Japan Inc., for the sale of Agricultural and construction equipment 26 27
Other minor amounts 96 30
Total Net revenues from jointly controlled entities 1,767 1,574
■Cost of sales: transactions have taken place principally with the following companies:
(in millions of euros) 2006 2005
Tofas-Turk Otomobil Fabrikasi Tofas A.S., for the purchase of motor vehicles 804 540
Società Europea Veicoli Leggeri-Sevel S.p.A., for the purchase of motor vehicles 1,191 1,042
Société Européenne de Véhicules Légers du Nord-Sevelnord Société Anonyme, for the purchase of motor vehicles 378 431
Other minor amounts 664 175
Total Cost of sales for purchases from jointly controlled entities 3,037 2,188
■Current trade receivables: these relate to receivables resulting from the revenues discussed above and, starting from December
2006, those arising from the Group’strade relationships with FAFS, which mostly regard the sales of vehicles leased out by FAFS in
its own turn under operating or financial lease arrangements. In particular:
Fiat Group Consolidated Financial Statements at December 31, 2006 -Notes 188